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To be sure, these are
big goals. But based on our growth and effective execution over
the last decade, we think these targets are achievable. To be successful
in this industry, companies must have scale in their mortgage originations
and diversified earnings streams. Our strategies are designed to
capitalize on the strengths of our hybrid model to gain market share,
increase profitability, and ultimately enhance shareholder returns.
These strategies are as follows: |
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- Leverage our mortgage lending infrastructure to expand our marketing
and sales efforts, our geographic presence, and to create specialty
niche mortgage lending businesses.
- Balance earnings and enhance franchise value by:
- Establishing a Southern California retail banking franchise.
- Building our investment portfolio.
- Support the above strategies:
- Investing in a strong team and state-of-the-art capabilities
in mortgage manufacturing, risk-based lending, trading and
investing.
- Enhancing our performance culture to out-execute the competition.
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Leveraging our Mortgage Lending
Infrastructure |
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Geographic expansion to leverage our
core mortgage lending business is key to building scale in our business.
As we open new regional centers and expand our sales and marketing
efforts in these areas, we not only attract new mortgage broker customers
but also obtain a greater share of business from existing customers
in those locations. To this end, in 2003 we opened two new regional
sales and operations centers—one in Dallas and one in Seattle—for
a total of seven today. Our plan is to increase the number of regional
centers across the country from 15 to 20 by 2008 and to add sales
and marketing personnel accordingly. During 2003, we increased our
sales and marketing personnel by 78% for a total of 848 across our
channels of business. |
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